Construction Workers Getty Images 135373903
Construction Workers Getty Images 135373903
Construction Workers Getty Images 135373903
Construction Workers Getty Images 135373903
Construction Workers Getty Images 135373903

November Value of New Construction Shows Little Change

Jan. 10, 2020
Total construction spending during Nov. 2019 was estimated at a seasonally adjusted annual rate of $1,324.1 billion, +0.6% above the revised October estimate.

Total construction spending during Nov. 2019 was estimated at a seasonally adjusted annual rate of $1,324.1 billion, +0.6% above the revised October estimate of $1,316.8 billion. The U.S. Census Bureau said the November figure is +4.1% above the Nov. 2018 estimate of $1,271.4 billion. During the first eleven months of this year, construction spending amounted to $1,201.6 billion, -0.8% below the $1,211.8 billion for the same period in 2018.

Private construction. Spending on private construction was at a seasonally adjusted annual rate of $985.5 billion, +0.4% above the revised October estimate of $981.1 billion. Residential construction was at a seasonally adjusted annual rate of $536.1 billion in November, +1.9% above the revised October estimate of $526.3 billion. Nonresidential construction was at a seasonally adjusted annual rate of $449.4 billion in November, -1.2% below the revised October estimate of $454.7 billion.

Private office construction did not show any change from October at $68.73 billion, but is enjoying a +6.5% increase year-over-year in November.

Public construction. In November, the U.S. Census Dept.’s estimated seasonally adjusted annual rate of public construction spending was $338.6 billion, +0.9% above the revised October estimate of $335.7 billion and +12.4% above Nov. 2018. Educational construction was at a seasonally adjusted annual rate of $83.9 billion, virtually unchanged from the revised October estimate of $84 billion and +12.6% above Nov. 2018. Public health care construction was up +1.2% to $8.88 billion in November, but down -4.4% from Nov. 2018.